Refinance appraisal during the winter

[Michael B.]

I purchased a property this summer which we are going to live in for about a year. After I finish school this spring, we plan on moving again and renting out the current property. We purchased the property with a conventional loan and 5% down, 30 year, and a PMI obviously.

We are doing some significant updates and upgrades that will increase property value. I would like to refinance around the 6 month mark and get the PMI dropped and a better rate, while switching to a 15 year.

My question is.. are appraisals lower in the winter due to the obvious drop in demand because it is the winter?  Would it be better if I waited till next summer before I move out when the market is hopping again?  Obviously id like to catch the rates when they are low, rather than risking them going back up by next summer.